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ABOUT LIBERTY HEALTH SCIENCES

 

Liberty Health Sciences was launched to acquire and operate U.S. – based
companies in the medical cannabis market. Liberty is committed to delivering
high-quality, clean and safe pharmaceutical grade cannabis to patients while
optimizing returns to our shareholders.
 

Liberty Health Sciences Experiences a Significant Increase in Year-Over-Year Revenue and Provides Update on its Liberty 360 and Ohio Operations

Canada NewsWire

TORONTO, Dec. 7, 2018

Liberty Health Sciences Inc. (CSE: LHS) (OTCQX: LHSIF) www.libertyhealthsciences.com ("Liberty" or the "Company"), a provider of high quality cannabis, announced today that they experienced a significant increase in sales revenue in the quarter ended November 30, 2018 compared to the same period in the prior year. For the quarter ended November 30, 2018, revenue increased by 45% compared to the quarter ended August 31, 2018.

Liberty's recent quarterly revenue totalled $3.2 million and its fiscal year-to-date revenue totaled $6.5 million. This continued growth in revenue reflects the Company's improvement on returning patient count and the expanding dispensary base, as well as the strength of its partnerships with best-in-class brands such as PAX and Mary's Medicinals.

Liberty's patient count increased by 46% during the quarter ended November 30, 2018 to approximately 14,500 patients. Supporting this growth is Liberty's accelerated pace in opening dispensaries, adding three additional dispensaries over the last quarter for a total of seven dispensaries and six delivery hubs opened to date. Liberty expects to open another seven dispensaries by the end of February 2019 to a total of 14 dispensaries across Florida, including locations in Miami, Boca Raton and Gainesville, subject to the receipt of all necessary approvals from the Florida Department of Health. Under the state regulations, the Company is entitled to open up to 30 dispensaries. Accordingly, Liberty will continue to seek suitable locations in response to the state's growing patient count.

"We are happy with the progress we are making as we continue to move forward on both dispensary openings and operational capacity," said George Scorsis, CEO of Liberty Health Sciences. "Liberty remains committed to growth and operational excellence across Florida and to potential expansion opportunities in other states."

In support of the ongoing opening of its dispensary locations, Liberty expects to finish construction in phases on the planned 225,000 square feet Liberty 360 facility including the state-of-the-art processing and production space in 2019. Liberty is currently operating 20,000 square feet of cultivation space at the Liberty 360 property as well as 24,000 square feet at the original Alachua property to support the growing demand for product. The next phase, expected to be completed in early 2019, will add 80,000 square feet of cultivation space. Liberty is fully funded to complete these capital expenditures.

"Our cultivation team is doing an excellent job and we continue to get amazing yields from our operations," said Lewis Swarts, VP Operations of Liberty Health Sciences. "The automation we have introduced into our processing operations is paying dividends as we are able to keep up with the increase in demand from our growing patient base."

In addition to the expanded cultivation and processing space, the facility will also include a state-of-the-art research and development lab. With the completion of the processing plant, Liberty's extraction capacity will increase by nine times its current level.

The completion of Liberty 360 will allow Liberty to significantly increase its production capacity, expand its product line and provide scientific and technical support for Liberty's operations in other states. Liberty currently employs just under 200 people across its operations and dispensaries. With the anticipated completion of Liberty 360, the Company expects to employ a diverse workforce of up to 500 people including patient liaisons, scientists, engineers and cultivation specialists.

In Ohio, Liberty, together with their joint venture partners, the Schottenstein Group, expects to open their dispensary in Dayton, Ohio at the end of March 2019. Its processing facility will open subsequent to that in the spring of 2019, each depending on the receipt of the required regulatory approvals. The joint venture has secured a 10,000 square foot processing facility, which will be used for extraction, refining, formulation and packaging.

"Liberty is committed to bringing the same high-quality offerings to Ohio as we have in Florida," said Scorsis. "With the knowledge base gained over our last year of operation, we believe we have the team and tools to continue to succeed."


Company website https://www.libertyhealthsciences.com

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#1525   Company* SmokeABull 01/22/19 08:21:01 PM
#1524   Are you serious!? I actually need to provide SmokeABull 01/22/19 08:20:27 PM
#1523   Tomorrow is going to be a good day Las3r 01/22/19 04:53:27 PM
#1522   reminding everybody that this is a scam doesnt UnderOath-KY 01/22/19 01:12:58 PM
#1521   “So far I’ve been correct with my assumption” UnderOath-KY 01/22/19 10:40:05 AM
#1520   My agenda is pretty simple. Keep reminding people SmokeABull 01/22/19 10:31:23 AM
#1519   Some of us our invested and so we UnderOath-KY 01/22/19 09:57:48 AM
#1518   Shill out man, almost seems like your in SmokeABull 01/22/19 09:48:28 AM
#1517   I’m talking about the 2 new board members...neither SmokeABull 01/22/19 09:13:58 AM
#1516   As of Jan 18th those characters are gone. RigorousGains 01/21/19 03:42:23 PM
#1515   There’s no train nor train station Etailer. Liberty SmokeABull 01/21/19 11:06:32 AM
#1514   Their goal is to have 30 dispensaries by Etailer 01/19/19 10:22:05 PM
#1513   Wow so many positive posts in such a SmokeABull 01/19/19 08:40:45 PM
#1512   Moving along nicely! Mrone 01/19/19 03:44:46 PM
#1511   https://www.tampabay.com/florida-politics/buzz/2019/01/18/marijuana-produces-str RiversRun 01/19/19 03:29:48 PM
#1510   Bonita Springs (south Lee County) location should be RiversRun 01/19/19 03:25:43 PM
#1509   Bonita Springs (south Lee County) location should be RiversRun 01/19/19 03:25:28 PM
#1508   North Miami Dispensary too ! Etailer 01/19/19 11:32:30 AM
#1507   Orlando location opening soon. Liberty is opening dispensaries Etailer 01/19/19 11:31:00 AM
#1506   New dispensary in Miami opening today. Etailer 01/19/19 11:29:31 AM
#1505   Loaded some here today! See 1 and over RigorousGains 01/18/19 04:18:13 PM
#1504   I agree. Mrone 01/17/19 01:30:47 PM
#1503   Volume increase today, good to see. Mrone 01/17/19 01:29:44 PM
#1502   Something is keeping Liberty down artificially. Given their JohnCM 01/17/19 01:29:40 PM
#1501   Breaking Exclusive: Florida To Announce Legalization Of Medical UnderOath-KY 01/17/19 01:04:50 PM
#1500   Comeon Liberty you can do it! 3.00 on UnderOath-KY 01/15/19 11:05:44 AM
#1499   I like all those picks and think Liberty UnderOath-KY 01/15/19 07:10:32 AM
#1498   Same here, OGI and finally Aurora have been Etailer 01/14/19 07:52:59 PM
#1497   Alright, now that the Aphria trash is gone. iudiehard1 01/14/19 02:38:35 PM
#1496   ACB,LHSIF$$$$$$$ Big RDC 01/13/19 02:04:11 PM
#1495   350,000 in 30 minutes, nice UnderOath-KY 01/11/19 09:59:16 AM
#1494   Poor poor liberty! Glad all my other MJ UnderOath-KY 01/10/19 02:08:50 PM
#1493   Short term looking for a buck to a JohnCM 01/09/19 11:34:30 PM
#1492   Does the Alphia share purchase option limit share JohnCM 01/09/19 09:31:13 PM
#1491   Nice ! Etailer 01/09/19 06:58:53 PM
#1490   Aphria Insiders to Depart Liberty Health Sciences Board JohnCM 01/09/19 02:43:14 PM
#1489   Both leaving with tons of shares? UnderOath-KY 01/09/19 07:11:28 AM
#1488   Might be the time to buy back in... https://www.newcannabisventures.com/aphria- Market_Stalker 01/08/19 10:02:52 PM
#1487   Hope they sell all their shares and vamoose UnderOath-KY 01/08/19 11:26:13 AM
#1486   Right here watching Liberty tank! Any time there’s SmokeABull 01/08/19 09:57:37 AM
#1485   https://www.forbes.com/sites/nicolefisher/2019/01/07/surgeon-general-believes-it edzon 01/07/19 07:34:18 PM
#1484   Smoke where art thou? $ACB,LHSIF$$$$$$$$ Big RDC 01/07/19 10:25:00 AM
#1483   https://www.naplesnews.com/story/news/local/communities/the-banner/2019/01/ UnderOath-KY 01/05/19 06:33:22 PM
#1482   Good read released this morning by the globe. greenwillow 01/05/19 12:09:09 PM
#1481   Ditto on Liberty done with Namaste Jaymeinnyc 01/04/19 04:35:18 PM
#1480   I have been methodically buying Liberty and Namaste. JohnCM 01/04/19 03:51:42 PM
#1479   Poor Liberty stuck in the dirt till whomever UnderOath-KY 01/03/19 10:20:14 AM
#1478   HELLO!!!!!! UnderOath-KY 01/02/19 03:59:09 PM
#1477   Great news for Aprhia today on announcing new RigorousGains 01/02/19 11:19:31 AM
#1476   Why you so concerned with Liberty? You give UnderOath-KY 12/31/18 12:25:20 PM
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